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The stochastic component in choice and regression to the mean

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Author Info

  • Aurora García-Gallego
  • Nikolaos Georgantzís
  • Daniel Navarro-Martínez
  • Gerardo Sabater-Grande

    ()

Abstract

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File URL: http://hdl.handle.net/10.1007/s11238-010-9223-6
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Bibliographic Info

Article provided by Springer in its journal Theory and Decision.

Volume (Year): 71 (2011)
Issue (Month): 2 (August)
Pages: 251-267

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Handle: RePEc:kap:theord:v:71:y:2011:i:2:p:251-267

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Web page: http://www.springerlink.com/link.asp?id=100341

Related research

Keywords: Choice under risk; Stochastic component in choice; Regression to the mean; Multiple-lottery choices;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Butler, D. J., 2000. "Do non-expected utility choice patterns spring from hazy preferences? An experimental study of choice 'errors'," Journal of Economic Behavior & Organization, Elsevier, vol. 41(3), pages 277-297, March.
  2. Ulrich Schmidt & Tibor Neugebauer, 2007. "Testing expected utility in the presence of errors," Economic Journal, Royal Economic Society, vol. 117(518), pages 470-485, 03.
  3. Loomes, Graham & Sugden, Robert, 1998. "Testing Different Stochastic Specifications of Risky Choice," Economica, London School of Economics and Political Science, vol. 65(260), pages 581-98, November.
  4. Fama, Eugene F & French, Kenneth R, 2000. "Forecasting Profitability and Earnings," The Journal of Business, University of Chicago Press, vol. 73(2), pages 161-75, April.
  5. Pablo Branas-Garza, & Nikolaos Georgantzis & Pablo Guillen, 2007. "Direct and indirect effects of pathological gambling on risk attitudes," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 2, pages 126-136, April.
    • Pablo Brañas-Garza & Nikolaos Georgantzis & Pablo Guillen, 2005. "I do not play lotteries," ThE Papers 05/04, Department of Economic Theory and Economic History of the University of Granada..
  6. Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December.
  7. Camerer, Colin F, 1989. " An Experimental Test of Several Generalized Utility Theories," Journal of Risk and Uncertainty, Springer, vol. 2(1), pages 61-104, April.
  8. Brañas-Garza, Pablo & Guillen, Pablo & del Paso, Rafael López, 2008. "Math skills and risk attitudes," Economics Letters, Elsevier, vol. 99(2), pages 332-336, May.
  9. Ulrich Schmidt & John D. Hey, 2004. "Are Preference Reversals Errors? An Experimental Investigation," Journal of Risk and Uncertainty, Springer, vol. 29(3), pages 207-218, December.
  10. Hey, John D & Orme, Chris, 1994. "Investigating Generalizations of Expected Utility Theory Using Experimental Data," Econometrica, Econometric Society, vol. 62(6), pages 1291-1326, November.
  11. Loomes, G. & Moffatt, P.G. & Sugden, R., 1998. "A Microeconometric Test of Alternative Stochastic Theories of Risky Choice," University of East Anglia Discussion Papers in Economics 9806, School of Economics, University of East Anglia, Norwich, UK..
  12. Blavatskyy, Pavlo R., 2006. "Violations of betweenness or random errors?," Economics Letters, Elsevier, vol. 91(1), pages 34-38, April.
  13. Camacho-Cuena, Eva & Garcia-Gallego, Aurora & Georgantzis, Nikolaos & Sabater-Grande, Gerardo, 2003. "An experimental test of response consistency in contingent valuation," Ecological Economics, Elsevier, vol. 47(2-3), pages 167-182, December.
  14. Robin Cubitt & Chris Starmer & Robert Sugden, 1998. "On the Validity of the Random Lottery Incentive System," Experimental Economics, Springer, vol. 1(2), pages 115-131, September.
  15. Holt, Charles A, 1986. "Preference Reversals and the Independence Axiom," American Economic Review, American Economic Association, vol. 76(3), pages 508-15, June.
  16. Sabater-Grande, Gerardo & Georgantzis, Nikolaos, 2002. "Accounting for risk aversion in repeated prisoners' dilemma games: an experimental test," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 37-50, May.
  17. Harless, David W & Camerer, Colin F, 1994. "The Predictive Utility of Generalized Expected Utility Theories," Econometrica, Econometric Society, vol. 62(6), pages 1251-89, November.
  18. David J. Butler & Graham C. Loomes, 2007. "Imprecision as an Account of the Preference Reversal Phenomenon," American Economic Review, American Economic Association, vol. 97(1), pages 277-297, March.
  19. Pavlo Blavatskyy, 2007. "Stochastic expected utility theory," Journal of Risk and Uncertainty, Springer, vol. 34(3), pages 259-286, June.
  20. Graham Loomes, 2005. "Modelling the Stochastic Component of Behaviour in Experiments: Some Issues for the Interpretation of Data," Experimental Economics, Springer, vol. 8(4), pages 301-323, December.
  21. Ballinger, T Parker & Wilcox, Nathaniel T, 1997. "Decisions, Error and Heterogeneity," Economic Journal, Royal Economic Society, vol. 107(443), pages 1090-1105, July.
  22. Schlapfer, Felix & Roschewitz, Anna & Hanley, Nick, 2004. "Validation of stated preferences for public goods: a comparison of contingent valuation survey response and voting behaviour," Ecological Economics, Elsevier, vol. 51(1-2), pages 1-16, November.
  23. Eva Camacho-Cuena & Aurora García-Gallego & Nikolaos Georgantzís & Gerardo Sabater-Grande, 2004. "An Experimental Validation of Hypothetical WTP for a Recyclable Product," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 27(3), pages 313-335, March.
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